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E SD | Everyone is going to be fighting over the 4k left of cattle remaining. If your security interest is not perfected, every I dotted and T crossed the judge is going to write you off. Names spelled right on the security documents, middle initials, all those fine details matter immensely when the chit hits the fan in a bankruptcy.
I would imagine if some feedlots are also First Dakota customers they are going to try and protect their own, I mean what is the difference, facing a charge off over the Blom place or possibly throwing another customer of your own into a classified status or worse. The loss is there regardless, if it was me as a bank I'd try and limit the collateral damage as much as possible. All other non bank customers are definitely SOL.
Edited by Womp 3/10/2019 22:16
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Trouble out west.
